United States PMI

United States: Manufacturing PMI eases in May

June 1, 2012

In May, the ISM manufacturing index (PMI) declined 1.3 percentage points to 53.5%. The reading undershot market expectations, which had anticipated the index moderating to 54.0%. Despite the decline, the index remains above the 50% threshold, which indicates the manufacturing sector has now been expanding for 33 consecutive months. The deterioration over the previous month reflected declines in four out of the five sub-components of the index, with the production and inventories sub-indices recording the largest drops. That said, according to the ISM

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Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.Source: Institute for Supply Management (ISM).

Retail sales unexpectedly dropped 0.3% from the previous month in January, sharply contrasting the 0.3% month-on-month increase that market analysts had expected, as well as the downwardly revised flat reading recorded in December (previously reported: +0.4% month-on-month).